Share price dips at Games Workshop – despite record performance

The share price at Nottingham-based fantasy game manufacturer and retailer Games Workshop dipped on Tuesday (Januaey 14) – despite record breaking results.

At the close of trading, the firm’s share price had dipped by over 4.2% – or 56p – to finish the day at £126.70p.

The news comes despite Games Workshop posting its best-ever first half results. Revenues grew by 14.3% to £269.4m, while operating profit also saw a boost, rising from £83.4m to £98.1m.

On the increasing costs associated with the Autumn Budget, Games Workshop said: “We don’t expect any material impact on our financial performance for the year to May 2025 following the UK’s Autumn Budget 2024, such as increases to the National Living Wage, as we already pay all of our UK staff, as a minimum, close to the new level.

“It may, however, drive third party input cost increases in 2025/2026. At this stage we have not been informed of any significant changes. We await confirmation on any other external tariffs or tax changes and we will manage them accordingly.”

CEO Kevin Rountree also touched on the Trump administration’s plans to introduce higher tariffs for those trading with the US.

He said: “We are awaiting confirmation, like everyone else, on the timing and magnitude of any US tariffs before we can confirm the impact on our net cash generation and other financial metrics. We are also facing constant cost inflation which we will continue to actively manage as part of the day job.”

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